ICICI Prudential Life Insurance: All You Need to Know

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential PLC, a leading international financial services group headquartered in the United Kingdom. Commissioned in the year 2000, ICICI Prudential Life Insurance was amongst the first private sector insurance companies to begin operations after receiving approval from Insurance Regulatory and Development Authority of India (IRDAI).

The ICICIPruLife has maintained its dominant position amongst private life insurers in the country, with an array of products to meet the different needs of the client and enable them to achieve their long term financial goals. The ICICI Prulife offers Life insurance plans under various categories.  Let’s take a look.

  • ICICI Term Insurance plans
  • Health Insurance plans
  • United Linked Insurance plans(ULIP)
  • Traditional savings/Money back plans
  • Retirement plans
  • Group plans
  • Rural plans

For over a decade, ICICI Prudential Life has maintained its dominant position (on new business retail weighted basis) amongst private life insurers in the country, with an array of products to match the different life stage requirements of customer and enable them to achieve their long term financial goals

Along with the ICICI Prulife applications form, the applicant has to enclose the following supporting documents

  • Identity proof
  • Age proof
  • Income proof
  • Address proof
  • PAN number

The ICICI Life Insurance offers different types of coverage plans;

  • Term Insurance Plans
  • 2. Participating Traditional Insurance Plans
  • 3. Non-Participating Traditional Insurance Plans
  • 4. Unit Linked Insurance Plans (ULIPs)
  • 5. Retirement or Pension plans

 

As of today, The ICICI Prudential share price stood at; BSE- 403.40 and NSE – 400.00

 

The ICICI Prudential Life Insurance Policy has certain eligibility conditions to be met as follows

 

Parameters Minimum Maximum
Entry Age 18 years 65 years
Maturity Age 23 years 75 years
Policy Term 5 years 40 years
Minimum Premium Rs. 2400.00 Rs. 2400.00
Premium payment mode Regular, single, limited Regular, single, limited
Premium payment frequency Single, monthly, half yearly, yearly Single, monthly, half yearly, yearly

The ICICI Prulife login process is very simple. The ICICI Prulife Customer login process consists of two simple steps.

  • Visit  the official  ICICI Prudential Life Insurance Link, https://apps.iciciprupms.com
  • Login with your email id and registered password.

 

The ICICI Bank has laid down a system based customer interaction. For any queries with respect the ICICI Prudential life insurance scheme, The ICICI Prudential Life Insurance Customer care service can be contacted on their toll free number; 1860 266 7766 

You can check your ICICI Prudential Life Insurance status online by following these steps:

  1. Open the official website of ICICI Prudential Life Insurance from here.
  2. Login with the category “Customer” using your username and password.
  3. You will be routed to a page where you will get your policy details and status.

Note: In case you do not have username and password, you can sign up and register to create your username and password first and then follow the above steps.

 

The ICICI Pruelife has come out with different types of policy plans to serve its customers. We will take a look at the figure below to know more.

 

  • The ICICI Group Terms Insurance Plan can be taken by a company or a group of people who want to extend insurance benefits to the members of the group. This plan is further categorized into 5 types as shown below;
  • ICICI Pru Group Term Life Solution: An affordable plan that can cover the members of an entire group.

 

    • ICICI Pru Group Gratuity Plan: To enable employees to take care of their gratuity payment liabilities.

 

  • ICICI Pru Group Superannuation Plan: Aimed towards providing pension benefits by the employers to their employees.
  • ICICI Pru Group leave encashment plan: Aimed towards the benefit of employers to handle their leave encashment liabilities.

 

  • ICICI Pru Group immediate annuity plan: Aimed at pension benefits to the employees.

 

  • The ICICI Pruelife Rural Plan is aimed at bringing the Life Insurance Plan to the rural sector.  The ICICI Pru Sarva Jana Suraksha Plan caters to the rural population.

 

  • The ICICI Pru iProtect Smart plan covers accidental death benefit and critical illness benefit.

 

The ICICI Prudential Life Insurance Policy continues to be guided by a team which is bound by 5 core values;

  • Boundary less: I will treat organisation agenda as paramount
  • Integrity: What I do when nobody is watching
  • Humility: Openness to change and learn.
  • Customer First: Service excellence towards Internal and External Customers
  • Passion: Demonstrates infectious energy and enthusiasm

 

Frequently Asked Questions (FAQ)

 

  1. What is the claim process of ICICI Prudential Life Insurance?
  2. The ICICI Prudential life insurance claim has three different steps to be followed;

Step 1: Claim Reporting

The first step involves reporting your claim. You can report your claims online, at our branches, central office, via SMS, e-mail or through our call centre as per your convenience. However, claims reported online, through SMS or e-mail will not be considered as intimation. Physical documents will be required to start the process.

Step 2: Claim Processing

A special claim care team will assess your claim, and inform you in case any further documents need to be submitted. Post receiving all the necessary documents, we will process your claim request.

Step 3: Claim Settlement

Claims are settled on verification of supporting documents.

  1. How much time does it take to settle an ICICI Prudential life Insurance Claim?
  2. The entire process of claim settlement takes about 15 days.
  3. What is the ICICI Prudential policy renewal process?
  4. The ICICI Prulife Policy can be renewed online by visiting the official website, www.iciprulife.com
  5. Can I cancel the ICICI Prulife policy at any point of time?
  6. You have to retain the policy for a minimum period of three years before you can cancel it.

The ICICI Pruelife has come out with different types of policy plans to serve its customers. We will take a look at the figure below to know more.